Guidance

Audit and Risk Assurance Committee Handbook

The Audit and Risk Assurance Committee handbook reflects developing best practice in governance.

From:
HM Treasury and Internal Audit Profession
Published
29 May 2013
Last updated
24 July 2024 — See all updates

Documents

Audit and Risk Assurance Committee Handbook

Ref: ISBN 978-1-917151-23-8

PDF, 324 KB, 60 pages

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GIAA Audit and Risk Assurance Committee Self-Assessment Tool

MS Excel Spreadsheet, 104 KB

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Details

This Audit and Risk Assurance Committee (ARAC) Handbook has been refreshed and expanded to improve clarity and reflect changes in best practice in governance. The handbook covers the role and responsibilities of an ARAC and provides guidance on good governance processes for ARACs.

Whilst it is not intended to provide guidance on areas that an ARAC may need to review, Annex F ’Key questions for an ARAC to ask’ does provide prompts of what ARACs should consider on a range of topics, including whistleblowing and cyber security. This Annex is not meant to be an exhaustive (or restrictive) list of questions relating to a particular topic. Annex H is a checklist which an ARAC could use to review its effectiveness.

To help with this review and take account of each member’s views, the questions from Annex H have been transferred to a spreadsheet (Audit and Risk Assurance Committee self-assessment tool) allowing all ARAC members (and the views of others) to be collated and analysed.

Updates to this page

Published 29 May 2013
Last updated 24 July 2024 + show all updates

  1. The Handbook has been fully refreshed to improve clarity and reflect changes in best practice in governance. The annexes on whistleblowing and cyber security have been removed, and some questions on these topics are now incorporated into Annex F ‘Key questions for an ARAC to ask’. A checklist for ARACs to use to review their effectiveness has been added at Annex H. To help with this review and take account of each member’s views, the questions from Annex H have been transferred to a spreadsheet allowing all ARAC members (and the views of others) to be collated and analysed.

  2. Added Audit and Risk Assurance Committee Handbook Annex J Cyber Security

  3. new, updated PDF

  4. First published.

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